ACP vs. DBL

Last updated Jun 3, 2026

ACP (abrdn Income Credit Strategies Fund) and DBL (DoubleLine Opportunistic Credit Fund) are both Multisector Bonds funds. Both are actively managed. Over the past 10 years, ACP returned 6.16%/yr vs 2.50%/yr for DBL. At a 0.20 correlation, their price movements are largely independent. ACP charges 1.97%/yr vs 2.43%/yr for DBL.

Performance

ACP vs. DBL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in abrdn Income Credit Strategies Fund (ACP) and DoubleLine Opportunistic Credit Fund (DBL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ACP achieves a 5.21% return, which is significantly higher than DBL's -2.37% return. Over the past 10 years, ACP has outperformed DBL with an annualized return of 6.16%, while DBL has yielded a comparatively lower 2.50% annualized return.

ACP

• 1D: -0.19%
• 1M: -0.79%
• YTD: 5.21%
• 6M: 6.93%
• 1Y: 7.07%
• 3Y*: 9.78%
• 5Y*: -0.06%
• 10Y*: 6.16%

DBL

• 1D: -0.10%
• 1M: -0.46%
• YTD: -2.37%
• 6M: -2.11%
• 1Y: -0.56%
• 3Y*: 7.28%
• 5Y*: 2.10%
• 10Y*: 2.50%

*Multi-year figures are annualized to reflect compound growth (CAGR)

ACP vs. DBL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ACP abrdn Income Credit Strategies Fund	5.21%	6.48%	4.81%	19.27%	-22.87%	6.65%	7.51%	26.93%	-17.64%	15.60%
DBL DoubleLine Opportunistic Credit Fund	-2.37%	7.16%	10.05%	13.11%	-15.83%	4.61%	3.93%	16.74%	-6.24%	4.49%

Correlation

The correlation between ACP and DBL is 0.30, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.30
Correlation (3Y) Calculated over the trailing 3-year period	0.28
Correlation (5Y) Calculated over the trailing 5-year period	0.26
Correlation (10Y) Calculated over the trailing 10-year period	0.22
Correlation (All Time) Calculated using the full available price history since Jan 30, 2012	0.20

Return for Risk

ACP vs. DBL — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

ACP

ACP Risk / Return Rank: 7
ACP Sharpe Ratio Rank: 7
ACP Sortino Ratio Rank: 7
ACP Omega Ratio Rank: 7
ACP Calmar Ratio Rank: 7
ACP Martin Ratio Rank: 7

DBL

DBL Risk / Return Rank: 2
DBL Sharpe Ratio Rank: 2
DBL Sortino Ratio Rank: 2
DBL Omega Ratio Rank: 2
DBL Calmar Ratio Rank: 3
DBL Martin Ratio Rank: 3

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

ACP vs. DBL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for abrdn Income Credit Strategies Fund (ACP) and DoubleLine Opportunistic Credit Fund (DBL). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	ACP	DBL	Difference
Sharpe ratio Return per unit of total volatility	0.62	-0.08	+0.70
Sortino ratio Return per unit of downside risk	0.95	-0.07	+1.02
Omega ratio Gain probability vs. loss probability	1.12	0.99	+0.13
Calmar ratio Return relative to maximum drawdown	0.71	0.01	+0.69
Martin ratio Return relative to average drawdown	2.04	0.03	+2.01
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ACP vs. DBL - Sharpe Ratio Comparison

The current ACP Sharpe Ratio is 0.62, which is higher than the DBL Sharpe Ratio of -0.08. The chart below compares the historical Sharpe Ratios of ACP and DBL, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	ACP	DBL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.62	-0.08	+0.70
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.00	0.18	-0.19
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.29	0.17	+0.12
Sharpe Ratio (All Time) Calculated using the full available price history	0.20	0.32	-0.12

Drawdowns

ACP vs. DBL - Drawdown Comparison

The maximum ACP drawdown since its inception was -51.03%, which is greater than DBL's maximum drawdown of -26.45%. Use the drawdown chart below to compare losses from any high point for ACP and DBL.

Drawdown Indicators

	ACP	DBL	Difference
Max Drawdown Largest peak-to-trough decline	-51.03%	-26.45%	-24.58%
Max Drawdown (1Y) Largest decline over 1 year	-10.51%	-5.72%	-4.79%
Max Drawdown (3Y) Largest decline over 3 years	-18.97%	-5.72%	-13.25%
Max Drawdown (5Y) Largest decline over 5 years	-38.83%	-24.54%	-14.29%
Max Drawdown (10Y) Largest decline over 10 years	-51.03%	-26.45%	-24.58%
Current Drawdown Current decline from peak	-5.58%	-3.30%	-2.28%
Average Drawdown Average peak-to-trough decline	-11.12%	-6.86%	-4.26%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.64%	2.18%	+1.46%

Volatility

ACP vs. DBL - Volatility Comparison

abrdn Income Credit Strategies Fund (ACP) has a higher volatility of 4.35% compared to DoubleLine Opportunistic Credit Fund (DBL) at 1.81%. This indicates that ACP's price experiences larger fluctuations and is considered to be riskier than DBL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ACP	DBL	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.35%	1.81%	+2.54%
Volatility (6M) Calculated over the trailing 6-month period	9.32%	5.44%	+3.88%
Volatility (1Y) Calculated over the trailing 1-year period	11.36%	7.12%	+4.24%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.06%	11.56%	+5.50%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.08%	14.53%	+6.55%

ACP vs. DBL - Expense Ratio Comparison

ACP has a 1.97% expense ratio, which is lower than DBL's 2.43% expense ratio.

Dividends

ACP vs. DBL - Dividend Comparison

ACP's dividend yield for the trailing twelve months is around 17.55%, more than DBL's 9.20% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ACP abrdn Income Credit Strategies Fund	17.55%	17.19%	19.72%	17.65%	17.70%	11.76%	12.73%	12.27%	12.60%	10.26%	10.72%	12.69%
DBL DoubleLine Opportunistic Credit Fund	9.20%	8.66%	8.52%	8.60%	8.89%	7.17%	8.69%	6.83%	10.27%	9.03%	8.68%	9.35%

Frequently Asked Questions

Can I hold both ACP and DBL in my portfolio?

ACP and DBL have a correlation of 0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ACP or DBL?

ACP has higher volatility (4.35%) compared to DBL (1.81%). In terms of maximum drawdown, ACP dropped -51.03% vs DBL's -26.45%.

Which has better risk-adjusted returns?

ACP currently has the higher Sharpe Ratio (0.62 vs -0.08), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.